BUSINESS 2

Front

The study of making choices in a world of limited resources and unlimited wants and needs.

Back

Economics

Front

All __ are scarce

Back

resources

Front

4 types of resources (MENTION IN ALPHABETICAL ORDER) (FORMAT: WORD, WORD,)

Back

Capital, Entrepreneurial, Human, Land

Front

Money

Back

means of exchange

Front

resources

Back

factors of production

Front

2 main types of economics (ALPHABETICAL ORDER)

Back

Macroeconomics, Microeconomics

Front

Can macroeconomics refer to the world as a whole?

Back

True

Front

Can macroeconomics refer to the country as a whole?

Back

True

Front

Can macroeconomics refer to a business as a whole?

Back

False

Front

One of the building blocks of economics is:

Back

choices involve tradeoffs, choosing is refusing